Category: Podcasts

Episode 103 — Managing Supply Chain Risks

Global companies face significant challenges in managing their supply chain risks. Most companies incorporate a holistic supply chain risk process as part of their enterprise risk management systems.  Legal risks, while not the most significant risk, is one aspect of these risks, especially in the aggressive enforcement of anti-bribery, sanctions, anti-money laundering and speciality laws surrounding conflict minerals, human trafficking and slavery. In this episode,...

Episode 102 — The Future of Compliance

Compliance has come a long way over the last 10 years. But it still has a ways to go until it is firmly embedded into the corporate governance landscape. In this episode, Michael Volkov examines current issues surrounding compliance programs, including the state of the compliance profession, technology and new frameworks; government enforcement trends and predictions; and congressional mandates for compliance.  

Episode 101 — The Antitrust Division Announces New Credit for Compliance Programs

In yet another major compliance development, the Justice Department announced the adoption of a new policy to credit effective compliance programs in resolving criminal cartel prosecutions against corporations. Since the 1990s, the Antitrust Division’s policy regarding corporate compliance programs was generally fixed given the ability of companies to seek benefits under the leniency program. As part of its new policy, the Antitrust Division released its own...

Episode 100 — Interview of Tom Fox, the Compliance Evangelist

In celebration of the 100th episode of Corruption Crime and Compliance, Tom Fox, the Compliance Evangelist and Leader, is our guest.  Tom and Mike discuss Tom Fox’s current Compliance Podcast Network, his entertaining Star Trek summer compliance podcast series, his perspective on the recent government compliance guidance, his insights into the compliance profession, technology developments and the future of compliance.  As always, Tom’s perspective on...

Episode 99 — When to Conduct Enhanced Anti-Corruption Due Diligence

Companies face significant challenges in managing their third party risk programs.  As companies improve their systems and automate their programs, they continue to face difficult situations in deciding when to conduct enhanced due diligence reviews of a potential third-party.  DOJ and the SEC have provided extensive guidance in the third-party risk area, but companies have to develop and implement their own approach to deciding when...

Episode 98 — Quick Dive into Recent OFAC Enforcement Actions

So far in 2019, OFAC is sending a strong message about sanctions enforcement and compliance responsibilities. OFAC is aggressively seeking out new targets for enforcement, emphasizing compliance with Cuba and Iran sanctions programs, and focusing on US companies that acquire foreign subsidiaries to ensure post-closing compliance with OFAC sanctions regulations. In this episode Michael Volkov discusses recent trends in OFAC enforcement actions and priorities.

Episode 97 — Matt Stankiewicz Discusses Blockchain Domains and Trademarks with Brad Kam, Co-Founder of Unstoppable Domains

As the blockchain industry continues to grow, we’ll begin to see traditional industries shifting to the blockchain to leverage the technology. Unstoppable domains is a company working to place web domains on the blockchain. Instead of traditional extensions like .com, .net, or .io. Unstoppable Domains will utilize .zil addresses as smart contracts on the Zilliqa public blockchain. This will first provide simple, human-readable crypto wallet...

Episode 96 — The End of the Line: The Walmart FCPA Settlement

After a lengthy investigation (yes, 8 years), Walmart agreed to settle its FCPA violations and paid approximately $282 million , divided as follows: (1) $138 combined criminal penalty under the terms of a three-year non-prosecution agreement; and (2) $144 million disgorgement pursuant to an agreement with the SEC. Walmart’s Brazil subsidiary entered a guilty plea to one count of violating books and records in the Eastern...

Episode 95 — Interview of Teresa Troester-Falk, Chief Global Privacy Strategist at Nymity, on the California Consumer Privacy Act

The California Consumer Privacy Act of 2018 (the “Act”) was signed into law by California Governor Jerry Brown on June 28, 2018, after being hastily introduced in the California Legislature just a few days prior.  The Act is effective January 1, 2020. In this episode, Michael Volkov interviews Teresa Troester-Falk, Chief Global Privacy Strategist at Nymity, concerning the Act and the compliance implications for businesses.   ...

Episode 94 — How to Conduct a Risk Assessment for Sanctions Compliance

OFAC’s new framework guidance for sanctions compliance programs stretched into new territory with its risk assessment requirement. This new approach reflects OFAC’s recent aggressive enforcement programs. The scope of a risk assessment has to mirror the breadth of enforcement risks and has to include review of: (i) customers, supply chain, intermediaries, and counter-parties; (ii) the products and services it offers, including how and where such items fit into...